The Fed held interest rates steady at its October meeting, extending the high-rate environment. The dollar and U.S. Treasury yields remained relatively strong, while global risk assets broadly came under pressure—providing the key macroeconomic backdrop for this latest pullback in crypto prices from their highs.
Preferred direction: Short (sell rallies)
- Entry range: 77500–77800
- Stop-loss reference: Exit if the price closes firmly above 78400
- Profit targets: First target 77000–76800; if it breaks below this level decisively, look toward the previous low of 76265
Hawkish macro expectations, institutional outflows, and industry security incidents have converged as three negative factors. The broader trend is bearish, so shorting rallies is preferred. Any longs should be very short-term trades, with quick entries and exits. Around 77200, the current mid-range price offers a relatively poor risk/reward ratio, so entering hastily is not recommended.#btc #Binance to resume withdrawals for more assets
Preferred direction: Short (sell rallies)
- Entry range: 77500–77800
- Stop-loss reference: Exit if the price closes firmly above 78400
- Profit targets: First target 77000–76800; if it breaks below this level decisively, look toward the previous low of 76265
Hawkish macro expectations, institutional outflows, and industry security incidents have converged as three negative factors. The broader trend is bearish, so shorting rallies is preferred. Any longs should be very short-term trades, with quick entries and exits. Around 77200, the current mid-range price offers a relatively poor risk/reward ratio, so entering hastily is not recommended.#btc #Binance to resume withdrawals for more assets
